Growth Status of Boilers Market Across the Globe

Boiler market products have been around forever as boilers continue to be the source of steam or vapor which have vast number of applications used in houses to industries for running turbines, supply heat or for processing certain materials. Boilers market offering household boilers to commercial boilers, is seeing a transition in terms of the source of heat used to heat up the boilers.

Government bodies and other authorities are promoting the use of renewable energy sources for heating boilers owing to the depleting natural resources. Boiler market is also transitioning from the traditional oil-fired boiler to advanced condenser boilers with the spreading awareness of increasing the efficiency of the boilers. This is a major driver in the growth of this boiler industry. Condenser boilers have changed the scenario of the boiler market due to their new design which helps capture heat which is otherwise lost during the combustion process. This energy is harnessed and put to efficient use. This reduces the overall heating cost of the process. According to experts of the boiler industry, condenser boilers are definitely pushing growth in this market.

China has introduced a ‘coal to gas’ policy which has given a major boost to the boiler market. China has led the global boiler market with over 1.77 million unit sales during 2016. During this period, this regional market has been dominated by wall mounted gas non-condensing boilers. Overall, boiler market in China is expected to grow dynamically till 2021. South Korea also showed a rapid growth in this industry and sold over 1.75 million boilers standing second in the boiler market. These numbers are also expected to rapidly increase by 2021. UK is not far from China and South Korea in this list, with gas condensing type being predominantly sold in UK boiler market currently.

It is very evident that the condensing technology introduced in the boiler market is definitely a boon to the industry as it a better, cleaner and energy efficient option to the traditional boilers. These boilers are gradually being accepted by more and more countries as saving natural resources is an important criteria for all countries across the globe. According to experts, the boiler industry is growing at a rapid rate and will definitely see a bright future with more energy efficient options available. More and more boiler market players are installing these advanced technologies like condensation to grow their boiler business. It is definitely a good time to expand or try your hand at the boiler market.

eMarketOrg has accumulated some reports prepared by research experts in boiler industry: